nikkei 225

Barclays shares are 3% lower in early trading despite posting profits of almost £4bn in the first half.

The FTSE fell in early trading in reaction to losses on Wall Street overnight and a weak opening in European markets.

London's top stocks have given up some of yesterday's triple-digit gains in early trading, with the FTSE 100 down 0.72%.

The FTSE 100 has soared 1.98% this morning as HSBC more than doubled pre-tax profit to £7bn.

The FTSE was down in early trading at 5311.91, representing a drop of 2.04 points (0.04%), ahead of US GDP data.

The FTSE edged slightly higher this morning, buoyed by upbeat earnings announcements from AstraZeneca and BAE Systems.

Banks are once again leading the FTSE 100 gains in early trading, after a number of stocks soared upwards of 10% yesterday on the relaxing of Basel III rules.

UPDATE 12pm: The FTSE 100 index has climbed almost 1.6% in morning trading after strong late gains overnight on Wall Street.

The FTSE 100 index of leading shares has dropped more than half a percentage point this afternoon following a shaky start in trading.

Miners and banks are driving the FTSE upwards this morning, as London's leading shares continue to rebound on the back of Wall Street's stellar showing yesterday.